Ultimate Forex Signals Review: Is this a Scam?

A Forex signal is an auto or human-generated instruction usually sent at a certain price and time, to a Forex signal service subscriber. Ultimate FX signals provide Forex signals to its subscribers at a fee as an investment strategy. This online signal trading platform was founded by Nick McDonald, a novice trader who introduced the educational courses contained therein.

Advantages and Features of Leading Trading Robots

Let’s dive into the advantages and disadvantages of investing with a reliable crypto trading automated tool.

• Easy to use

These are some of the easiest trading tools to use thanks to their engaging interface and memorable trading experience.

You don’t even have to be an experienced trader to get your hands on these wonderful trading tools.

• Conduct Real Time Market Analysis

By processing immense amount of market information, users get a more accurate setting of the market prices and product status. The bots identity market conditions such as volatility and help traders make informed decisions.

• Time Efficient

One of the key benefits of using automated bots is time. The trading process is completely automated thus making it hands-free. You can also set your preferred parameters before moving on. Traders don’t have to constantly conduct market analysis.

• Portfolio diversification

Traders can run multiple accounts using robots and thus, increase the trader’s portfolio diversification. You get to run multiple accounts and strategies and benefiting from robots that do all the heavy lifting.

• Dependable and Trusted

Traders want a dependable and trusted tool that will meet the promise of making reasonable ROI for investors.

You get a chance to use institutional-grade trading tools that will improve your trading skills as well as overall performance.

• Easy to Manage

Most of the tools are easy to manage in that they do offer reasonable monthly or yearly charges for update.

Most of these cryptocurrency trading tools will offer some of the very best when it comes to free subscriptions and trials.

• Custom tools for traders

You don’t have to use the parameters of the robot’s developer, these tools give traders a chance to custom the features.

Traders can now test their trading skills by setting their preferred trading styles with any of the listed robots.

The platform offers professional-level traders who teach and direct users. It’s on this platform that investors/subscribers access the ultimate Forex signals’ educational courses, forums, chats, and live streams. We always recommend you, to invest with profitable Forex signal providers in the industry.

 Training and educational courses

These courses and training pave the way for investors to gain Forex knowledge while trading. Ultimate Forex signals offer a training course with 12 modules and 136 videos, all of which are easy to understand.

Ultimate Forex signal providers offer these courses at a monthly or weekly fee following their policies. The testimonials from the alleged legit sources are cascaded to gain investors’ trust, but they certainly don’t forecast profitable trades.

As an investor, you should put in the work and trade in practice. That’s the main reason for joining trading signals. Not the courses offered.

 The trial period/ money-back guarantee

Legit Forex signal platforms must provide a money-back guarantee or a trial period of their products to investors. It’s at this period that investors can see the viability of the signal. They can see if the signal results compare with the published ones on the performance page.

Ultimate Forex signals provide a five day trial period at a fee of 1 Euro to investors, thus aiding in their decision making. During the trial period, the impeccable results displayed on the platform’s website should be the same as those received during the five day trial period.

In some cases, the signal might have been verified on myfxbook, but the results aren’t similar to those of the website, and this happens when the website displays results from a different strategy or other websites to lure traders/investors. From this, they can show good results that will help sell them on myfxbook and Forex Peace Army.

Always ensure that either of the above factors is active in the Forex signal you choose to invest in. If not, there’s a big chance the signal provider is a scam. These kinds of traders can’t be trusted, and you should tread carefully.

 Membership plan

Ultimate Forex signals have three membership plans.

• The test/trial plan that goes for a period of 5 days at a fee of 1 Euro;
• The gold plan that goes for one month at a fee of 100 Euro, and
• The ultimate plan that goes for three months at a fee of 250 Euro.

Due to the above subscription charges, investors ought to know that the larger the account size, the higher the chance of breaking even. Thus, earning more profit.

For example, a $3000 Forex trading account, whose subscription charges are $100 per month would require a return of 40% to break even. A $100,000 account only needs 1% per year in returns to break even.

It is, therefore, more profitable and wise to open a larger account since lesser funds are needed to break even, thus higher profits.

 Forex trading Knowledge

According to ultimate FX signals, trading knowledge is not necessary as their team of experts’ trade for you. They might be trading for you, but knowledge of trading is essential.

Legit Forex service providers provide a way for you to trust in their process. It is why you are required to understand how Forex signals are generated and why a specific trading strategy works. This way, if you lose money through a certain process that you know about, you won’t lose confidence in it.

The knowledge of the strategy also helps you comfortably adjust a trade according to your broker and detect false signals provided by a trading expert or a programmed robot.

 Huge Bonuses/ High return rates

Ultimate Forex signals offer monthly bonuses of $1500 of the investors’ initial investment. Why is the trader giving you such a reward bonus?

Many scammers attract investors with these kinds of promises to have a larger market. These huge bonuses are usually a red flag.

We, therefore, advise you to approach signals offering such giveaways with caution. No matter their number in the online trading market, do your due diligence. Always be on your toes about Forex signal scams.

 Losses incurred

 Incurring losses in Forex trading is normal since the market trends keep on changing. It is important to understand that ultimate Forex signals are not liable for any losses an investor incurs.

 Every investor should, therefore, take it upon themselves to know how they want to grow in Forex trading. The main strategy should be risk management. Investors must be smart in their decisions. As an investor, you would rather risk 1% of your investment that 25%. This is because if the trade doesn’t go in your favor, you won’t lose much.

You need to invest in signals that show both the closed profits and open trades. If a signal shows a gain of 200 pips, but the open trades indicate a loss of 2000 in an account of 5000, that’s a bad signal. In this case, you’ll have to close the current open trades, thereby losing half of your account

 Make sure you don’t lose overly on each trade. This helps in maintaining consistent growth.

 Performance

Performance is the basis for valuation by investors in the Forex market, and ultimate Forex signals display their profits in pips. This is a very lucrative way of showing success.

The online market is the new home for fraudsters. They will set up shop and scam people. In Forex signals, there is a huge difference between displaying profits in pips and dollars/Euros. Showing profits in dollars is genuine, but showing profits in pips can be manipulated.

Traders can make thousands of pips and verify them to appear very profitable and attractive to investors. A signal provider might open about four positions in all possible directions. The signal provider will then wait for one of the signals to be profitable and then close that specific profitable trade in different micro-lots.

Let’s say trade is entered for 1 lot when it becomes profitable; the trader closes the 1 lot in 0.01 micro lots creating 100 transactions. Something called a partial close.

The trader then updates the record in pips instead of dollars on myfxbook. I say the deal was partially closed with a profit of 13.02 pips, then 100 deals were closed. An update on myfxbook would read a total of 1302 pips in profit while, in the true sense, profit was only $13.02 from one lot only.

Therefore the investor ought to understand that provision of MT4 statements and backtests in pips is not enough proof of the actual performance of the trading signal.

If the trader does this over time, an investor might be tricked into buying the signals due to the number of pips earned. The investor needs to look into these facts before venturing into trading using Forex signals.

 Performance dashboard

The performance of the Forex signal in the myfxbook site should be publicly provided. All open and closed trades, drawdown dates, the balance available, withdrawals, and equity should be publicly available to enhance decision making.

The performance results should also be matched to their periods in months or weeks. If none of these is done, kindly proceed with much caution.

 Final Verdict

It is your responsibility to do due diligence before approaching a signal provider for investment purposes. The moment you find out that there exist no performance results provided in myfxbook, do not proceed.

Always invest with the best signal providers in the market. Make a conscious decision based on facts and reliable investigation reports. Happy trading!